Apartment with lift or shared ownership house - help me decide

ExEstateAgent

Wouldn't touch 'shared ownership' with a bargepole, too many people end up stuck with them. 

For any flat, you want a long lease (ideally over 100 years, preferably over 900 years), low service charges, ideally a share of freehold with peppercorn ground rent, of if not a ground rent not more than £250 and that doesn't increase any further. 

Remember that the service charge is only for run of the mill maintenance/insurance. Any large jobs will be charged as and when required (like replacing a lift) and as said, check if there's a sink fund which will help cushion the blow. 

MEM62

In short - avoid shared ownership at all costs.  

saajan_12

The main question which only you can answer is flat or house? Eg 
- Flat because its easier to maintain, single level, etc, or
- House for outside space, more distance to neighbours (eg no one on top of you), no service charges

If flat, then leasehold is par for course and £3200 isnt' terrible for a place that includes lifts. However I'd check if there's any sinking fund and whether the service charge includes any contribution to it. 

If house, then shared ownership has its pitfalls, from having to ask permission, to coverign all costs despite owning a %, and difficulty selling. If you prefer a house then I'd probably wait to build up savings a bit more to buy a house outright with a mortgage if possible. 

freesha

Neither. Is there no third option?

MysteryMe

I don't like either option TBH.  That service charge is quite a whack and will only go one way. You need to think ahead to when you are on a fixed income.

I'd try and aim for a freehold house.